SC Ventures, Standard Chartered’s innovation, fintech investment and ventures arm, has launched of Trade and Supply Chain Connect (TASConnect), a bank agnostic supply chain finance platform.
TASConnect aims to be a leading provider of automated trade and supply chain financing solutions, which gives organisations and their ecosystems better access to liquidity and working capital management. It is designed to improve cash flow within supply chains through four key capabilities
TASConnect is based on principles of co-creation and collaboration with clients to address their pain points of managing large, fragmented, and opaque supply chain finance processes. Lenovo, Gartner Top 25 Global Supply Chain company, is one of TASConnect’s pioneer clients. The platform will help organisations to efficiently simplify complex connections with their multiple value-chain partners, including suppliers, buyers and banks.
At launch, TASConnect will offer accounts payable and accounts receivable management solutions, focusing on large corporate organisations. As part of roadmap, TASConnect is adding capabilities powered by artificial intelligence, machine learning and blockchain, along with ESG traceability to bring greater value to businesses.
Alex Manson of SC Ventures said: “We work closely with corporates to understand their business and challenges. TASConnect is a result of the client co-creation process that aims to realise value by connecting ecosystems with trust and trade.”
Hugh Wu, Global Treasury Head of Lenovo, said: “TASConnect helped us transform and fully automate our previously manual supply chain finance processes. The platform is customised to integrate all our financing banks and replicate our own workflows. Our Treasury function is now empowered with end-to-end visibility and control, all via one single platform.”